Adopted Budget	
Fiscal Year 2022	

Downtown Doral	
Community Development District	

August 24, 2021

Downtown Doral	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Narrative	

Page 1	
Page 2-3	

Debt Service Fund	
Budget	
Amortization Schedule	

Page 4	
Page 5	

Downtown Doral	
Community Development District	

Description

General Fund

Projected	
Next	
2 Months	

 	
Projected	
thru	
9/30/2021	

 	
Adopted	
Budget	
FY 2022	

Revenues	
Interest Income	
Special Assessments - On Roll	

$0	
$113,200	

$184	
$114,772	

$37	
$0	

$220	
$114,772	

$0	
$113,200	

Total Revenues	$113,200	$114,956	$37	$114,992	$113,200

Adopted	
Budget	
FY 2021	

Actual	
Thru	
7/31/2021	

 	 	 	 	

$14,000	
$5,000	
$21,100	
$5,000	
$1,200	
$8,300	
$37,080	
$1,000	
$1,000	
$100	
$750	
$750	
$12,975	
$1,000	
$750	
$125	
$175	
$250	
$2,645	
$113,200	

Expenditures

Administrative	
Engineering Fees	
Dissemination Agent	
Attorney Fees	
Annual Audit	
Arbitrage Rebate	
Trustee Fees	
Management Fees	
Computer Time	
Website Compliance	
Telephone	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Other Current Charges	
Office Supplies	
Dues, Licenses & Subscriptions	
Capital Outlay	
Contingency	

$14,000	
$5,000	
$21,100	
$5,000	
$1,200	
$8,300	
$37,080	
$1,000	
$1,000	
$100	
$750	
$750	
$12,074	
$1,000	
$750	
$125	
$175	
$250	
$3,546	

$1,094	
$4,167	
$6,493	
$3,500	
$0	
$8,013	
$30,900	
$833	
$833	
$0	
$178	
$123	
$11,795	
$0	
$349	
$18	
$175	
$0	
$3	

$2,333	
$833	
$1,299	
$0	
$1,200	
$0	
$6,180	
$167	
$167	
$17	
$36	
$175	
$0	
$167	
$58	
$25	
$0	
$42	
$591	

$3,427	
$5,000	
$7,791	
$3,500	
$1,200	
$8,013	
$37,080	
$1,000	
$1,000	
$17	
$213	
$298	
$11,795	
$167	
$407	
$43	
$175	
$42	
$594	

Total Expenditures	$113,200	$68,472	$13,288	$81,761

Excess Revenues/(Expenditures)	$0	$46,483	($13,251)	$33,232	$0

Gross Assessments	$119,158
$5,958	
Discounts & Collections (5%)		
Net Assessments	$113,200	
Number of Residential ERUs	2,591
239	
Number of Commercial ERUs		
Total ERUs	2,830
$40.00
$42.11	
Annual O&M per ERU(net)		
Annual O&M per ERU(gross)		

Page 1

Downtown Doral
Community Development District	General Fund

REVENUES:

Assessments
The District will levy a Maintenance Assessment on all assessable property within the District.

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Arbitrage
The District will be required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Trustee Fees
The District issued Series 2015A Special Assessment Revenue Bonds which are held with a Trustee at Wells Fargo. The amount of the trustee fees will be based on an agreement between the Trustee and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Computer Time
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Website Compliance
Per Section 189.069 F.S, all District must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated as required by the Statute.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Downtown Doral
Community Development District	General Fund

Administrative: (continued)

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Contingency
Represents any un-budgeted expense related to the operations and maintenance of the common areas.

1st Quarter Operating

These funds are the first quarter of the following fiscal year of expenses the District will incur before assessments are collected.

Downtown Doral	
Community Development District	

 	
Debt Service Fund	
Series 2015 Special Assessment Bonds	

Revenues	
Special Assessments - On Roll	
Special Assessments - Direct	
Interest Income	
Special Assessments - Prepayment	
Carry Forward Surplus (1)	

$862,337	$873,061	
$156,298	$157,524	
$0	$88	
$0	$0	
$428,935	$429,735	

$0	
$0	
$18	
$0	
$0	

$873,061	
$157,524	
$106	
$0	
$429,735	

$862,337	
$156,298	
$0	
$0	
$439,649	

Adopted	
Budget	
FY 2021	

Actual	
Thru	
7/31/2021	

Projected	
Next	
2 Months	

Total	Adopted	
Projected	Budget	
9/30/2021	FY 2022	

Description

$1,447,570		$1,460,408	

Total Revenues

Total Expenditures	$1,021,008		$1,020,776		$0	$1,020,776	$1,023,189	
								
Excess Revenues	$426,562		$439,631		$18	$439,649	$435,095	
						
Interest 11/01/2022	
$359,957	

Expenditures

Series 2015	
Interest - 11/01	
Principal - 5/01	
Interest - 5/01	

$373,004	
$275,000	
$373,004	

Blended Commercial Blended Commercial - 8333 Building
Townhomes (3)
7950 Professional Center
Condos Area 1
Condos Area 3

$1,458,284

$372,888	
$275,000	
$372,888	

$0	
$0	
$0	

$372,888	
$275,000	
$372,888	

$366,594	
$290,000	
$366,594	

Units/Sq.ft.	ERU's	Per ERU Amoun	Total	
47,000	14.10	$1,032	$14,547	
149,823	44.95	$1,032	$46,370	
73	73.00	$1,006	$73,464	
68,742	20.62	$784	$16,158	
203	203	$1,201	$243,854	
426	426	$1,205	$513,330
Gross On Roll Assessment	$907,723	

$18		$1,460,425	

Less Discount and Collection Fees	($45,386)

Net On Roll Assessment	$862,337
Net Direct Assessment	$156,298

Total Net Assessment	$1,018,635

(1) Carry forward surplus is net of the reserve fund requirement.
(2) Excess revenues from the Reserve Account is transferred to the Construction/Acquisition Account.
(3) 12 Units have prepaid their debt assessment.
(4) 2 Units have prepaid their debt assessment.

Downtown Doral	
Community Development District	

 	
Series 2015 Special Assessment Bonds	
Amortization Schedule	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

11/01/21	$13,750,000.00	$0.00	$366,594.38	$1,014,482.50	
05/01/22	$13,750,000.00	$290,000.00	$366,594.38	$0.00	
11/01/22	$13,460,000.00	$0.00	$359,956.88	$1,016,551.25	
05/01/23	$13,460,000.00	$300,000.00	$359,956.88	$0.00	
11/01/23	$13,160,000.00	$0.00	$353,091.25	$1,013,048.13	
05/01/24	$13,160,000.00	$310,000.00	$353,091.25	$0.00	
11/01/24	$12,850,000.00	$0.00	$345,997.50	$1,009,088.75	
05/01/25	$12,850,000.00	$330,000.00	$345,997.50	$0.00	
11/01/25	$12,520,000.00	$0.00	$338,444.38	$1,014,441.88	
05/01/26	$12,520,000.00	$335,000.00	$338,444.38	$0.00	
11/01/26	$12,185,000.00	$0.00	$330,291.25	$1,003,735.63	
05/01/27	$12,185,000.00	$360,000.00	$330,291.25	$0.00	
11/01/27	$11,825,000.00	$0.00	$320,785.00	$1,011,076.25	
05/01/28	$11,825,000.00	$380,000.00	$320,785.00	$0.00	
11/01/28	$11,445,000.00	$0.00	$310,751.25	$1,011,536.25	
05/01/29	$11,445,000.00	$400,000.00	$310,751.25	$0.00	
11/01/29	$11,045,000.00	$0.00	$300,190.00	$1,010,941.25	
05/01/30	$11,045,000.00	$425,000.00	$300,190.00	$0.00	
11/01/30	$10,620,000.00	$0.00	$288,967.50	$1,014,157.50	
05/01/31	$10,620,000.00	$445,000.00	$288,967.50	$0.00	
11/01/31	$10,175,000.00	$0.00	$277,217.50	$1,011,185.00	
05/01/32	$10,175,000.00	$470,000.00	$277,217.50	$0.00	
11/01/32	$9,705,000.00	$0.00	$264,807.50	$1,012,025.00	
05/01/33	$9,705,000.00	$495,000.00	$264,807.50	$0.00	
11/01/33	$9,210,000.00	$0.00	$251,737.50	$1,011,545.00	
05/01/34	$9,210,000.00	$525,000.00	$251,737.50	$0.00	
11/01/34	$8,685,000.00	$0.00	$237,875.00	$1,014,612.50	
05/01/35	$8,685,000.00	$550,000.00	$237,875.00	$0.00	
11/01/35	$8,135,000.00	$0.00	$223,352.50	$1,011,227.50	
05/01/36	$8,135,000.00	$580,000.00	$223,352.50	$0.00	
11/01/36	$7,555,000.00	$0.00	$207,762.50	$1,011,115.00	
05/01/37	$7,555,000.00	$610,000.00	$207,762.50	$0.00	
11/01/37	$6,945,000.00	$0.00	$190,987.50	$1,008,750.00	
05/01/38	$6,945,000.00	$645,000.00	$190,987.50	$0.00	
11/01/38	$6,300,000.00	$0.00	$173,250.00	$1,009,237.50	
05/01/39	$6,300,000.00	$685,000.00	$173,250.00	$0.00	
11/01/39	$5,615,000.00	$0.00	$154,412.50	$1,012,662.50	
05/01/40	$5,615,000.00	$720,000.00	$154,412.50	$0.00	
11/01/40	$4,895,000.00	$0.00	$134,612.50	$1,009,025.00	
05/01/41	$4,895,000.00	$765,000.00	$134,612.50	$0.00	
11/01/41	$4,130,000.00	$0.00	$113,575.00	$1,013,187.50	
05/01/42	$4,130,000.00	$805,000.00	$113,575.00	$0.00	
11/01/42	$3,325,000.00	$0.00	$91,437.50	$1,010,012.50	
05/01/43	$3,325,000.00	$850,000.00	$91,437.50	$0.00	
11/01/43	$2,475,000.00	$0.00	$68,062.50	$1,009,500.00	
05/01/44	$2,475,000.00	$900,000.00	$68,062.50	$0.00	
11/01/44	$1,575,000.00	$0.00	$43,312.50	$1,011,375.00	
05/01/45	$1,575,000.00	$950,000.00	$43,312.50	$0.00	
11/01/45	$625,000.00	$0.00	$17,187.50	$1,010,500.00	
05/01/46	$625,000.00	$625,000.00	$17,187.50	$642,187.50	
	Total	$15,110,000.00	$11,529,318.75	$25,927,206.88